Domestic And Us-owned Manufacturing Consolidated Financial Statements Under The New Accounting Standards

These years, US-owned manufacturing industry in China is growing quite fast. Consolidated financial statement is a science that focuses on practice, and it reflects the operators'choice of the consolidation theories. It is also the concrete implementation about the accounting standard. Consolidated financial statement about US-owned manufacturing not only offers messages for the users in China, but also for foreigners out of china, so we should use FAS to transform the consolidated financial statement.The content of this paper contains six parts, including merger theory, the combined method and the scopes. The first part mainly describes the backgrounds. The second part describes the existed research about consolidated financial statement, then defines consolidated theory, the scope of consolidation and the methods of consolidation that used in this paper. The third part describes the differences of Chinese new accounting statement and US GAAP including the followings:the format; US GAAP requires consolidated cash flow statement mainly using indirect methods instead of direct methods; minority interests should be listed between liabilities and owner's equity; the report notes require disclosure of the contents of the richer; the consolidated statements made the us-owned manufacturing industry use U.S. dollars as the reporting currency; the scope of consolidation still uses "control" to define the long-term equity investments; the US GAAP do not distinguish a business combination under common control with non-business combination under common control, so the same business combination under the control in US-owned manufacturing industy need to be adjusted and converted to a "merger of goodwill", the fourth section describes the territory about consolidated statements of US-owned manufacturing industry when Chinese accounting statement theory is transformed into US GAAP. In Part V, the writer analyse the causes of the mading on this phenonmenon. In the Sixth Chapter,Including conclusions and advisions about how to imperfect the accounting statements of making consolidated accountment. Within the US-owned manufacturing sector in the preparation of consolidated statements. we need to refine the contents in consolidated statements, so that when we transform the consolidated statements in different theory,we can use the right principles. Moreover, we should improve the merger theory to strengthen the supervision of consolidation.